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The Advantages Of Health Insurance Policies


Insurance is a necessary concern for all people who care about the future. Life is full of unexpected happenings and any events like accident, death, divorce and illness, etc. will bring insecurity in life, which ultimately resulted into economic difficulties. Such unexpected things need some financial security, which can cover all expenses in life without affecting one's economic condition. Insurance is a form of risk management, which can minimize the loss, arise from any incident in life. It is a kind of financial arrangement, whereby a company promises to offer a guaranteed compensation for any possible loss over the payment of premium by the insurance holder. Insurance can be of various types, and health insurance is one of them, which have tremendous importance in recent years, when diseases are on the rise.

The necessity of health insurance plan

It is a type of insurance which will cover expenses related to any medical and surgical activities incurred by the insured patient. Such a policy will either reimburse the whole expense to the insurer or will directly pay the care providers. It is mostly included in government and private organizations in order to attract employees. It has several benefits, as it will help you to get rid of all financial expenses related to your treatment, and you can happily concentrate on your recovery. Moreover, one can have access to better treatment by health insurance policies without losing his family's financial savings. Health is wealth, during medical emergencies; the priority is always given on recovery, not on money. So, health insurance is an ultimate necessity.

Types of health insurance and their benefits

Health Insurance can be categorized into four sections namely; Critical Insurance, Disability Insurance, Long term Care Insurance, Drug and Dental Insurance. Critical insurance covers the severe illnesses like cancer, heart problems, organ transplant, kidney failure, etc., when a lump sum amount is paid to the insured within 30 days of diagnosis. To obtain the benefits, one must fulfill several criteria for that. It is especially helpful for those who develop medical complications in later life. It is also suitable for cases when someone has very young children, and he may not be able to work further due to any illness. 

Disability Insurance covers people who become disabled due to any accident or illness and hence cannot work further. Such a policy will provide tax-free income to the policyholder on a monthly basis until 65 years of age. It is suitable for any business professionals or self employed people. Disability insurance benefits will be divided into various categories like Veteran's Disability Insurance Benefits, Workers' Compensation Disability Insurance Benefits and some others. Long term Care Insurance will cover a range of services like care at nursing home or at own home to people, over 65 years of age, having any chronic illness and disability. 

This is the right policy for those who are unable to perform their daily tasks and require constant supervision of others. This is non- taxable service and can give flexibility and control of any elderly person on his own life. Drug and Dental Insurance will give protection any hidden dental care costs to you and your family. It will cover 90% of prescribed drugs, any vaccination costs, travel costs, physiotherapy, any dental services like cleaning and filling etc. together it covers ambulance and nursing services.


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